AHA-BUCH

Monetary Policy Operations and the Financial System
-32 %

Monetary Policy Operations and the Financial System

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ISBN-13:
9780198716907
Einband:
Buch
Erscheinungsdatum:
01.09.2014
Seiten:
320
Autor:
Ulrich Bindseil
Gewicht:
655 g
Format:
241x161x32 mm
Sprache:
Englisch
Beschreibung:

An introduction to the way that central banks implement monetary policy through market operations. It explains monetary policy operations in normal times, reviews the basic mechanics of financial crises, and explains what central banks need to do to fulfil their monetary policy and financial stability mandates when markets and banks are impaired.
Introduction and Overview; Part I: Monetary Policy Operations in Normal Times; 1 Basic Terminology and the Relationship to Monetary Macroeconomics; 2 Representing Monetary Policy Operations in Financial Accounts; 3 Operational Target of Monetary Policy; 4 Three Basic Approaches to Monetary Policy Implementation; 5 Several Liquidity Shocks, Averaging, and the Martingale Property of Overnight Rates; 6 Standing Facilities and the Interest Rate Corridor; 7 Open Market Operations in Normal Times; 8 Reserve Requirements; 9 Collateral; 10 Optimal Monetary Policy Operations in Normal Times; Part II: Monetary Policy in Times of Crises; 11 The Mechanics of Liquidity Crises; 12 The Role of Collateral Availability for Monetary Policy; 13 Open Market Operations and Standing Facilities; 14 The Central Bank as Lender of Last Resort (LOLR); 15 LOLR and Central Bank Risk Taking; 16 LOLR, Moral Hazard, and Incentives; 17 The International Lender of Last Resort; 18 Optimal Monetary Policy Implementation in Crisis Times
An introduction to the way that central banks implement monetary policy through market operations. It explains monetary policy operations in normal times, reviews the basic mechanics of financial crises, and explains what central banks need to do to fulfil their monetary policy and financial stability mandates when markets and banks are impaired.